# In the matter of Rozina Firoz Hajiani & Ors. vs. Union Bank of India, Through MCA & Ors.

> HC judgment dated 2026-03-18. Citation: TCN-2026-HC-00011. The case involves a writ petition filed against an order of the Debts Recovery Tribunal-I, Mumbai…

- **Court:** HC
- **Order date:** 18 Mar 2026
- **Citation:** TCN-2026-HC-00011
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/bombay-high-court-panaji/rozina-firoz-hajiani-ors-vs-union-bank-of-india-through-mca-ors-afdaec1f

## Summary

### Background

The case involves a writ petition filed against an order of the Debts Recovery Tribunal-I, Mumbai (DRT). The petitioners, auction purchasers of a secured asset, are seeking relief against the DRT's order that effectively stalled further proceedings due to a moratorium claimed under Section 96 of the IBC.

## Facts

Respondent No.2-Union Bank of India extended credit facilities to Respondent No.3-borrower, secured by mortgaging an immovable property in Mumbai.

Respondent-borrowers defaulted on repayments, leading to the bank issuing a notice under Section 13(2) of the Securitisation Act in March 2017.

Respondent No.3-borrower proposed multiple OTS (One Time Settlement) proposals, but failed to fulfill the offers.

The bank took symbolic possession of the secured asset in November 2022 after multiple failed auction attempts.

The petitioners were declared successful bidders in the 10th auction in December 2024, and a sale certificate was issued.

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## Issues and analysis

### Issue 1: Whether the DRT's order restraining the bank from taking further steps until the disposal of …

**Ratio:** The court held that the DRT's order was not justified as it failed to appreciate the

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**Reasoning:** The court reasoned that the respondents' actions were designed to frustrate the legal

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**Interpretation:** The court interpreted the relevant provisions of the Securitisation Act and the

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**Application:** The court applied the principles of waiver and estoppel to the facts of the

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## Parties

- **Judges:** MANISH P…; SHREERAM V.…
- **Appellants:** Rozina Firoz…
- **Respondents:** Union of…; Ministry of…
- **Other parties:** Pana…
- **Advocates:** Siddharth…; Harsh Rames…; +9 more

## Timeline

- **2017-03-07 — Notice under Section…**: Respondent No.2-bank issued notice under Section 13(2) of the Securitisation Act to the…
- **2018-08-14 — Application under Section 14 of Securitisation…**: Respondent No.2-bank filed an application under Section 14 of the Securitisation Act…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 94 — Application by debtor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-94)

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